Icon (NASDAQ:ICLR) CAO Emer Lyons Sells 264 Shares of Stock

Key Points

• ICON Chief Accounting Officer Emer Lyons sold 264 shares for $54,558 at an average price of $206.66, reducing the holding by 17.83% to 1,217 shares. The sale covered tax withholding on vested equity awards.
• ICON’s latest quarterly results beat estimates: earnings were $2.66 per share versus $2.62 expected, and revenue was $2.02 billion versus $2.01 billion expected; revenue declined 0.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $213.76. Shares recently traded at $203.77.

Icon Plc (NASDAQ:ICLR - Get Free Report) CAO Emer Lyons sold 264 shares of Icon stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $206.66, for a total transaction of $54,558.24. Following the sale, the chief accounting officer owned 1,217 shares in the company, valued at approximately $251,505.22. The trade was a 17.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Emer Lyons also recently made the following trade(s):

• On Friday, October 23rd, Emer Lyons sold 272 shares of Icon stock. The shares were sold at an average price of $182.37, for a total transaction of $49,604.64.

Icon Price Performance

NASDAQ ICLR traded down $1.37 on Tuesday, reaching $203.77. The company had a trading volume of 1,096,464 shares, compared to its average volume of 1,264,512. The stock has a market capitalization of $15.60 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 13.65 and a beta of 1.24. Icon Plc has a 12 month low of $66.57 and a 12 month high of $219.04. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 0.37. The firm's 50 day moving average price is $172.62 and its 200 day moving average price is $146.63.

Icon (NASDAQ:ICLR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The medical research company reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.04. Icon had a return on equity of 7.73% and a net margin of 5.45%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company earned $3.31 earnings per share. The firm's revenue was down .9% on a year-over-year basis. As a group, equities analysts predict that Icon Plc will post 9.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ICLR. Weiss Ratings raised shares of Icon from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, October 28th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $250.00 price objective on shares of Icon in a research note on Thursday, October 29th. TD Cowen upped their target price on shares of Icon from $197.00 to $254.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. William Blair upgraded Icon to a "strong-buy" rating in a research report on Thursday, July 30th. Finally, Evercore reissued an "outperform" rating and set a $240.00 price objective on shares of Icon in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Icon has a consensus rating of "Moderate Buy" and an average price target of $213.76.

Institutional Investors Weigh In On Icon

Institutional investors and hedge funds have recently modified their holdings of the business. Polianta Ltd bought a new position in Icon in the 2nd quarter valued at $1,876,000. Maple Rock Capital Partners Inc. lifted its position in shares of Icon by 257.8% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,199,600 shares of the medical research company's stock worth $208,383,000 after purchasing an additional 864,300 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Icon by 68.0% during the first quarter. Royal Bank of Canada now owns 153,728 shares of the medical research company's stock valued at $17,011,000 after purchasing an additional 62,225 shares during the period. Trinity Street Asset Management LLP grew its holdings in shares of Icon by 27.1% in the second quarter. Trinity Street Asset Management LLP now owns 1,535,462 shares of the medical research company's stock worth $266,725,000 after purchasing an additional 327,314 shares during the last quarter. Finally, VELA Investment Management LLC increased its stake in Icon by 511.4% in the 2nd quarter. VELA Investment Management LLC now owns 12,192 shares of the medical research company's stock worth $2,118,000 after buying an additional 10,198 shares during the period. 95.61% of the stock is owned by institutional investors.

Icon Company Profile

ICON plc is a global contract research organization that provides outsourced development services to pharmaceutical, biotechnology and medical device companies. The company supports clinical research programs from early development through late-stage trials, regulatory submission and post-marketing activities.

Its services include clinical trial management, medical and regulatory consulting, biostatistics, data management, pharmacovigilance, laboratory services and real-world evidence solutions.

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